Peter Agnefjäll, who previously served as CEO of Ikea, has been named the new chair of JD Sports. He is scheduled to take up the role from the beginning of September, succeeding Darren Shapland.
Shapland had been appointed on an interim basis following the departure of Andy Higginson in April. Higginson's exit from the FTSE 100 sportswear retailer occurred ahead of his tenure's scheduled end in July.
The appointment follows a period where JD Sports reported a 12% decrease in pre-tax profit, falling to £629m in the year to January. This occurred despite a 12% increase in sales, which reached £12.7bn. The retailer has also warned of "muted" growth due to dampened consumer spending and cost pressures, forecasting a pre-tax profit of between £750m and £850m for the next year.